


Still below the 10 & 20 EMA. Today price had tried to recover above the 20 EMA but failed. Unfortunately I missed today the adding point at the 20 EMA tag. From now I don't suggest enter short position here because we are getting too late in this 2nd daily cycle. The SlowStoch has reached the oversold levels we just need the crossover, RSI is entering the oversold...
The ascending wedges are breaking down in 99% of the cases . When they break up the downbreak is always more aggressive. The bull hysteria forced the price to break up from the wedge yesterday. I'm waiting for at least an 50% retracement of the prevoius rally (1246.51) We printed a double top on the hourly chart. I just hope that longs covered yesterday instead of...
This is an interesting chart how the EurUsd and gold is moving together. Usually I'm watching the DXY- Gold chart but as now the main story is the upcoming Brexit event it's better to focus on EurUsd. In the past there were many times disunite events in these 2 wehicles history. I will post a few a bit later. I highlighted by a red rectangle where gold was...
GDX, NUGT, GDXJ, JNUG were in a sell off mode on Friday. Not only the dollar is decoupling gold but goldminers also. This is strange... While gold is printing a good rally miners are printing a bearish pin bar. They should follow gold . DUST is the inverse fung of NUGT I post this chart because I know a lot of you are in DUST and JDST. Next week will be very...
The Commitment of Traders report (COT) is published at the close of every Friday's trade and it always shows the Tuesday COT data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . The last Blees rating numbers (18) are showing that...
Oil broke above the 2015-10-09 intermediate high and turned down from there with a key reversal. It also has broken the trendline and broke below the 10 EMA today. For a sustained move we will need a daily close below the 10 EMA and later the 20 EMA. I have 3 levels which I think a possible spot for the DCL. Level 1 50 EMA, 300 EMA - even in ligh decline we...
I would like to offer this short trade to Jesse Livermore the best who ever lived short trader of the Wall Street for his 139. upcoming birthday. If I'm right we are going to print in gold this June a low which we will never going to see again in our life. Once this decline is finished gold will skyrocket above 2000 in the following years. Everything is ready...
The US Dollar (DXY) is in a falling wedge. It needs to tag the 10 EMA soon. At the same time it could break out of the falling wedge. 4hrs MACD crossed over showing to the upside. RSI has bullish divergence and leaving oversold. As the FOMC meeting is coming the Dollar will rally again. I still think that they will raise the rates next week.
When everybody is ready to go long in gold and miners it's time for the market to throw a curveball to the goldbugs. Isn't it too simple to come out of an intermediate cycle low the way it was? A simple bull flag , a simple breakout of the bullflag. Gap on gap. Skyrocketing to the sky. If you think this is the case you don't know Wall Street. This is not the...
The EurUsd seems to be testing back the daily trendline. As the FOMC meeting and Brexit coming closer and closer I start to think we must have one more leg down. We could easily have 3 weeks of decline caused by a FED rate increase next week and a Brexit panic the week after next.
I've started to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Metal trade X. Metal trade 2 ended with 824.5$...
I would like to summarize why do I think gold is not long right now. It's not only because of technical reasons. The gold chart is completely screwed by the weak jobs data number. I still think that powers knew the data and banks didn't allow gold to pop last Wednesday and Thursday. We got all the 3 days pop in one package on Friday. That's the best way to get...
I've started to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Metal trade X. Metal trade 1 ended with 6047.5$...
I've started to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Energy trade X. I moved 10.000$ starting...
Someone asked a week ago what is the Marubozu. This is it. Finally we got that hell of a bounce on Friday. Closing on daily maximum - as I predicted. We have the DCL in place (30.05.) Big guys have completely played out retail traders. Why? - We broke below 28.03 DCL on the 30th May. Everybody and his dog and his wife were shorting the market after Yellen's speech...
I have good news for trapped shorts. It seems to me that you will be able to ease the pain and close your positions in the following 5-7 days around 43$. We are on day 44 in the 2nd daily cycle. If we start to go down into the DCL this is the best time to do that or we don't have a 3rd daily cycle... We still have the MACD and RSI divergencies. We are crawling on...
We stayed out of this rally by a few cents unfortunately. Price couldn't come back to the FIBO level I was waiting for. It's looking quite bullish now. But don't enter now. It would be chasing the price... I would wait a 200 EMA testback (also the 2.17$ breakout testback) and maybe maybe the 50 EMA testback... These are the levels where I would enter with a long...
The Commitment of Traders report (COT) is published at the close of every Friday's trade and it always shows the Tuesday COT data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . The last Blees rating numbers (28) are showing that...